BRATISLAVA, August 22, (WEBNOVINY) — Consumer confidence in Slovakia improved in July. After stagnating in June, the indicator rose 2.8 points to negative 21.9 points in the seventh month. According to results of the Slovak Statistic Office’s consumer barometer released on Monday, this volume was more optimistic than the long-term average, but expressed more pessimism than in the same period a year ago. The survey was carried out in early July on a representative sample of 1,135 respondents aged 16 and over.
In monthly terms, in particular expectations regarding unemployment improved by 7.9 points. Pessimism regarding economic situation in Slovakia fell by 2.2 points. A moderate decline of 0.9 points was reported also in concerns over expected financial situation of households. Prospects of savings did not change from the previous month.
Compared with three months ago, the situation improved, too. The latest indicator was 7.9 percent more positive than three months ago as a result of reduced tension in all four of its components. Respondents were more optimistic in predicting unemployment development by 13.7 points and Slovakia’s economy by 7 points. The perception of the financial situation of households and future savings improved 5.7 points and 5.3 points, respectively.
In year-on-year terms, the current situation is worse. Consumers’ worries were 4.1 point higher in July than a year ago. The evaluation of economic prospects worsened 12 points, while expected development of financial situation of households deteriorated by 7.3 points. Citizens’ concerns decreased in expected savings of households by 1.6 points and in expected unemployment development by 1.3 points.
After adjustment to seasonal influences, the consumer confidence indicator in July reached negative 23.3 points. According to the provided data from 26 EU countries on the chart of states arranged on the basis of decreasing index of consumer confidence, Slovakia placed 17th, up one spot from June. In the European Union as a whole, consumer atmosphere represented negative 12.4 points, sinking 1.5 points m/m. Pessimism in Slovakia exceeded the EU average by 10.9 points in July.
SITA
